Wednesday, May 26, 2010

AAPL FY '10 Forecast - $65 Billion in Revenue, $15 (or more) Earnings Per Share

I'm currently preparing my preliminary FQ3 revenue and earnings per share estimates for Apple. With the early success of the Apple iPad and the anticipated demand for the fourth generation Apple iPhone, I'm forecasting Apple will reach $65 billion in revenue this fiscal year and $15 (or more) or in earnings per share.
There are a few noticeable trends emerging to support the 50% fiscal year revenue growth scenario including rising revenue in the operating segment inclusive of iTunes.  Mac unit sales growth remains strong and despite the economic challenges engulfing members states of the EU, Apple's growing presence in Europe should buoy sales.
For the first six months of this fiscal year Apple has earned $7.00 per share. The prospects of Apple earning $8.00 per share (or more) in the second six months of this fiscal year becomes brighter with each Apple iPad sold and the increasing interest in the features expected in the fourth generation Apple iPhone. 

Robert Paul Leitao


  1. I suspect that the new iPhone/OS4 will have a significant contribution to Apple's FY10 revenues. Look forward to seeing your analysis.

  2. Are you estimating sales of iPads for FY10 to be just under 10 million?

  3. Bunratty:

    I'll publish the detailed unit sales forecasts with my next revision to FY10 revenue and earnings estimates. Based on the results of FQ3 I will be revising my full FY10 estimates. I expect an upward revision to the numbers. I'm working now with a model that moves revenue and earnings higher. I'm waiting on more info concerning the pace of Mac unit sales and the anticipated decline in iPod unit sales volume.

  4. I'll do my part: MP or IMAC will be purchased as soon as they are refreshed. Holding a boatload of shares away from the HFT's.

    cheers to the longs